Target To Attract Customers With Curbside Pickup Program
Zacks Investment Research | Oct 03, 2017 08:34AM ET
Target Corporation (NYSE:TGT) , which has taken several strategic initiatives to drive performance, recently launched curbside pickup program, at 50 Twin Cities stores. This program gives customers an option to get their ordered items without leaving the comfort of their cars.
To avail the service the customers need to place orders via the latest version of Target’s app and then select “Drive Up”. Target will inform the customers when the order is ready for delivery. Once the shopper arrives to the chosen parking spot outside the Target store, an employee will bring the order to the vehicle.
Over the summer, the company has been testing the curbside pickup program with its employees at some of the Twin Cities stores. This is not for the first time that the company has come up with curbside pickup program. In 2014, Target tested the program but had to scrap it later on.
Other Strategic Initiatives
With the objective of capitalizing on the booming online grocery delivery market, Target is expanding Target Restock to eight new markets. Notably, Target Restock is a next-day delivery service, which the company had launched in June. Customers opting for next-day delivery services will have to shell out nearly $5 to avail the service. The company began this service in Minneapolis but latter on expanded it to Denver as well as Dallas markets in the month of August. Following the recent expansion, the service will now be available in Atlanta, New York, Chicago, Philadelphia, St. Louis, Los Angeles, San Francisco, and Washington D.C./Baltimore.
The Zacks Rank #3 (Hold) company’s initiatives such as the development of omni-channel capacities, diversification and localization of assortments along with emphasis on flexible format stores bode well for the stock. The shares of Target have outpaced the industry in the past three months. The stock has advanced 11.9%, outperforming the Original post
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